Why your breakfast is the latest thing to skyrocket in price amid Australia’s cost of living crisis
- Breakfast cereals are the latest hit by increased prices
- Coco Pops have increased to $9 per 650g box at Coles
- Cost of living and inflation have recently hit historic rates
A spike in the price of breakfast cereals is the latest challenge for cash-strapped Australian shoppers dealing with record cost-of-living increases.
The prices of Kellogg’s cereals have dramatically increased alongside other household products such as milk, eggs and bread as Australia’s inflation rate reached 7.8 per cent in January.
A video posted to the TikTok channel, OnlyPans___, shows supermarket giant, Coles, offering a special on popular cereal Coco Pops for $9.50 a box, or $17.10 for two.
‘This is a f****** joke right?’ the channel’s owner, Lauren Whitney, said in the video.
A video posted to the TikTok channel, OnlyPans___, shows supermarket giant, Coles, offering a special on popular cereal Coco Pops for $9.50 a box, or $17.10 for two
Ms Whitney criticised Kellogg’s and supermarkets for jacking up prices while their customers struggled.
‘The simple fact is these large companies make billions a year, as does the government from the taxes while we are down here struggling to get by,’ she commented under the post.
Other TikTok users quickly jumped on the video to have their say on the increased prices.
‘When did Kelloggs become a designer brand,’ one user joked.
‘On special this week for 5 bucks .. shouldn’t have to pay more than 5 bucks for a cereal anytime of the year,’ another user wrote.
One user wrote about their own shopping costs, ‘My weekly shop has gone up nearly $200 over the last three months. Same foods, all gone up in price and I shop the specials mostly.’
The $9.50 price tag on Coco Pops is a jump from $7.50 on similarly sized boxes earlier this year, while boxes of Nutri-Grain have also recently jumped in price from $6 to $8.50.
A Kellogg’s spokesperson explained the increased prices were due to rising costs of production combined with inflationary pressures
A Kellogg’s spokesperson explained the increased prices were due to rising costs of production combined with inflationary pressures.
‘With food production costs the highest they have been in decades and the impact of supply chain and inflationary pressures, we recently increased the price of our cereals,’ the spokesperson told News.
‘We believe that Kellogg’s continues to offer Aussie consumers great tasting and great value food, Coco Pops is available in three sizes to suit a range of households and budgets, and is less than 50 cents a serve based on the RRP.’
For employee households, where wages are the primary source of income, cost of living rose by 9.3 per cent over the past year, the largest increase since the statistic was first measured in 1999.
‘Employee households have recorded their largest quarterly rise since the September 2000 quarter, which followed the introduction of the GST,’ ABS head of prices statistics, Michelle Marquardt, said.
Daily Mail Australia reached out to Coles and Kellogg’s for a comment.
Read more at DailyMail.co.uk